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City · 11,878 residents · Clay County, South Dakota

Vermillion , South Dakota

In Vermillion, a typical home is worth $219,000 and typical rent is $764 a month. Compared with all of Clay County, typical household income is 11% lower, the typical home value is 6% lower, and the share of households that own their home is 9 points lower.

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  • Typical home value

    $219,000

    6% below the county

    15% below South Dakota

    • Vermillion
    • Clay
    • South Dakota

  • Typical rent

    $764a month

    About the same as the county

    19% below South Dakota

    • Vermillion
    • Clay
    • South Dakota

  • Typical household income

    $50,456a year

    11% below the county

    33% below South Dakota

    • Vermillion
    • Clay
    • South Dakota

  • Households that own their home

    42%

    9 points below the county

    27 points below South Dakota

    • Vermillion
    • Clay
    • South Dakota

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$271,465
1.5% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Vermillion is in Clay County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Clay County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Vermillion apart

What this place has that others do not, from public data, most unusual first.

  1. Vermillion has the lowest homeownership rate of the 19 cities in South Dakota with more than 5,000 people: 42%.

  2. Vermillion has the lowest typical household income of the 19 cities in South Dakota with more than 5,000 people: $50,456.

  3. Vermillion has the 2nd lowest typical rent of the 19 cities in South Dakota with more than 5,000 people ($764).

  4. Vermillion has the 2nd largest share of rent-burdened renters of the 16 cities in South Dakota with more than 5,000 people (51%).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Vermillion

What homes there are in Vermillion, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Homes in Vermillion are varied: detached houses are the largest group, at 42%, against 53% in Clay County.

Year built

In Vermillion, half of the homes were built before 1978; in Clay County, before 1976.

There are fewer big homes in Vermillion than in Clay County: 42% have 3 bedrooms or more, against 48%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

With an FHA limit of $541,287, at least 95% of owner-occupied homes in Vermillion sit below it: they are worth less than $500,000.

Monthly rent with utilities

With a mortgage

$1,631 a month

Clay County: $1,653 a month

Without a mortgage

$654 a month

Clay County: $676 a month

Owners with a mortgage

64%

Clay County: 60%

In Vermillion, 64% of owners have a mortgage; their typical cost is $1,631 a month, about the same as in Clay County.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Vermillion rose 37% since 2015–2019, about the same as in Clay County (38%).

Since 2015–2019, the typical rent in Vermillion did not change clearly, according to the Census.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureVermillionClay CountySouth DakotaUnited States
Rental vacancy Unreliable estimateUnreliable estimate6.0%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room Unreliable estimateUnreliable estimate2.3%3.4%
People per household 2.212.292.392.53
Drive alone 74%75%77%69%
Carpool Unreliable estimate6%8%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike 12%10%3%3%
Work from home 6%7%10%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimateUnreliable estimate10 to 19 minutes20 to 29 minutes

Much as in Clay County, a household in Vermillion has 2.21 people on average.

To get to work, 74% of workers in Vermillion drive alone; in Clay County, 75%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Vermillion?

A typical home costs more than the typical income allows

We start with a typical home in Vermillion, worth $219,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 45% of the typical household income in Vermillion, which is $50,456 a year. For that payment to be 28% of income, a household would need to earn about $81,990 a year.

The calculator's FHA and conventional loan limits are those of all of Clay County.

Your numbers

Local data
$

Starts at the typical home value in Vermillion. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $7,665 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,913

at 7.18% · 30 years

Loan amount
$215,033
Total interest
$309,383
Paid off in
November 2056

Includes $3,698 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,177 a month

  • Tight

    $1,177 to $1,514 a month

  • Hard

    more than $1,514 a month

    Your payment · 45%

Compared with the typical household income in Vermillion ($50,456 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,913
Principal & interest$1,457
Property tax$268
Home insurance$91
FHA mortgage insurance (MIP)$97

You need at least $7,665 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Vermillion and Clay County

Vermillion is in Clay County, South Dakota. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Vermillion's own numbers

Typical home value
$219,000
Typical monthly rent
$764
Typical yearly household income
$50,456
Households that own their home
42%
Effective property tax rate
1.47%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Clay County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,022
Price change over 5 years (FHFA)
+47%
Homes in a high flood-risk zone
0.5%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Clay County.

Everything about Clay County

Buying

Buying a home in Vermillion

A typical home in Vermillion is worth $219,000: 6% below the county and 15% below South Dakota. With the typical household income in Vermillion ($50,456 a year), a typical home costs 4.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Vermillion 4.3 years
  • Clay 4.1 years
  • South Dakota 3.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Clay County

According to FHFA’s house price index, home prices in Clay County rose 80% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Clay County.

Period County South Dakota U.S.
Last year (2025) +4.6% +3.1% +2.9%
5 years (2020–2025) +47% +50% +47%
10 years (2015–2025) +80% +85% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Vermillion next to Clay County, South Dakota and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Vermillion $219,000
  • Clay $232,300
  • South Dakota $257,400
  • United States $332,700
Typical monthly rent
  • Vermillion $764
  • Clay $770
  • South Dakota $946
  • United States $1,413
Typical yearly household income
  • Vermillion $50,456
  • Clay $56,850
  • South Dakota $75,081
  • United States $80,734
See the full table
Vermillion next to Clay County and South Dakota
Measure Vermillion Clay County South Dakota U.S.
Typical home value $219,000 $232,300 $257,400 $332,700
Typical monthly rent $764 $770 $946 $1,413
Typical yearly household income $50,456 $56,850 $75,081 $80,734
Households that own their home 42% 51% 69% 65%
Typical yearly property tax $3,214 $2,937 $2,724 $3,119
Effective property tax rate 1.47% 1.26% 1.06% 0.94%
Renters with high rent for their income 51% 49% 40% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Clay County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Vermillion

For a typical $219,000 home in Vermillion, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Vermillion's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,913a month

    Least cash to close
    Down payment
    $7,665
    Cash to close
    $14,235
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $97

  • Conventional, 5% down $1,873a month

    Down payment
    $10,950
    Cash to close
    $17,520
    Rate
    7.18%
    Mortgage insurance
    PMI · $104

  • Conventional, 20% down, no PMI $1,546a month

    Down payment
    $43,800
    Cash to close
    $50,370
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,749a month

    Down payment
    $32,850
    Cash to close
    $39,420
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Vermillion and for Clay County.

Property tax

Effective rate in Vermillion

1.47%of the home’s value each year

$3,214 a year for the typical owner in Vermillion.

  • Vermillion 1.47%
  • Clay 1.26%
  • South Dakota 1.06%

What South Dakota publishes Owner-occupied classification (South Dakota Department of Revenue (Owner-Occupied Classification tax fact, July 2026))

Exemptions and deadlines in South Dakota

Flood risk in Clay County

FEMA does not publish these numbers by city: they are for all of Clay County.

Homes in the high-risk zone
0.5%
28
Of those, with NFIP insurance
—
County South Dakota U.S.
Homes in the high-risk zone 0.5% 2.3% 3.5%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Vermillion

Typical rent in Vermillion is $764 a month: about the same as the county. In Vermillion, 51% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Clay County, by unit size. To pay the 2-bedroom one ($1,022 a month) without spending more than 30% of your income, you would need to earn $19.65 an hour working full time.

HUD fair market rent for all of Clay County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $712 $13.69 $28,480
1 bedroom $821 $15.79 $32,840
2 bedrooms $1,022 $19.65 $40,880
3 bedrooms $1,415 $27.21 $56,600
4 bedrooms $1,708 $32.85 $68,320

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Vermillion

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Vermillion is in ZIP code 57069.

For 2 bedrooms it is $1,010: $12 less than the fair market rent for Clay County ($1,022).

  • 57069 $1,010$1,410

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Vermillion when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Vermillion

HUD lists 11 buildings with rents for lower incomes in Vermillion. These are the largest.

  • Town Square Apts 505 W Main St, Vermillion 57069 70 homes, 69 low-income · For older adults (712) 255-3665
  • Madison Park Townhomes 305 N Norbeck St, Vermillion 57069 40 low-income homes · 2 bd: 25 · 3 bd: 15 · In service since 2015
  • Town Square Apts, Phase I 505 W Main St, Vermillion 57069 40 low-income homes · 1 bd: 36 · 2 bd: 4 · In service since 2003 · For older adults
  • Towne Square Apts 505 W Main St, Vermillion 57069 30 low-income homes · 1 bd: 30 · In service since 2002
  • Oakwood Apartments 1200 E Clark St, Vermillion 57069 28 low-income homes · For families (605) 624-9557

See all 11 buildings in Clay County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Vermillion

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Clay County. The nearest ones are below; many serve by phone or online.

A grandmother pushes her grandson on a playground swing.

HUD counseling is free or low-cost

Assistance programs in Vermillion

No down payment, repair or rent-help program on our list is for Vermillion or Clay County. The ones below are statewide in South Dakota: they work in Vermillion the same as in the rest of the state.

Which programs do I qualify for? All programs in South Dakota

  • Fixed Rate Plus

    Statewide in South Dakota

    South Dakota state authority mortgage with 3% or 5% of the loan for the down payment and closing costs, as a 0% second mortgage with no payments, repaid when you sell or pay off the home. Offered by South Dakota Housing Development Authority.

    Deferred

    See the program Official page

  • South Dakota Housing Tax Credit (MCC)

    Statewide in South Dakota

    South Dakota state authority certificate that turns part of your mortgage interest into a credit on your federal taxes, of up to $2,000 a year while you live in the home and keep the original mortgage; for first-time buyers, requested through a participating lender before closing. Offered by South Dakota Housing Development Authority.

    Tax credit

    See the program Official page

Housing counselors near Vermillion

The HUD-approved agencies closest to the center of Vermillion, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • CCCS of LSS - South Dakota

    920 Broadway Ave, Yankton · 25 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 4 more
    (605) 665-2106

  • Lutheran Social Services of South Dakota - CCCS

    705 E 41st St, Sioux Falls · 52 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (605) 330-2700

  • CCCS of LSS - South Dakota

    403 N. Lawler, Mitchell · 85 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 4 more
    (605) 996-0868

All counseling agencies in South Dakota

Help in Spanish near Vermillion

3 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Vermillion

HUD’s record names them for Vermillion or Clay County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Vermillion Housing and Redevelopment Commissi Section 8 vouchers (605) 677-7191

All housing agencies in South Dakota Source: HUD

Cities

Nearby cities

The cities closest to Vermillion, with the typical home value.

Everything about Clay County Housing in South Dakota

Neighboring counties

If Clay County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Vermillion.

All guides
A mother holds her laughing daughter on a grey sofa.

Questions

Housing questions about Vermillion

Short answers with the numbers for Vermillion and all of Clay County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Vermillion?

The typical home value in Vermillion is $219,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Clay County it is $232,300.

How much does it cost to rent in Vermillion?

Typical rent in Vermillion is $764 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Clay County is $1,022.

What is the FHA loan limit in Vermillion?

Vermillion uses the FHA limit for all of Clay County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Vermillion?

The typical homeowner in Vermillion pays $3,214 a year, according to the U.S. Census Bureau. That is 1.47% of the home’s value; in Clay County, the rate is 1.26%.

Where can I find free help to buy or rent in Vermillion?

We found no HUD-approved counseling agencies with an office in Clay County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).